jamison_fx

USDCAD AT HUGE DAILY SUPPORT

Long
FX:USDCAD   U.S. Dollar / Canadian Dollar
I expect to see a bit of congestion around this level of 1.30000 but we are only just coming into it now. Ill be looking for longer term buy trades but not just yet as its not very often we see price spike into these major levels and change direction that quickly.. most traders should know these levels, so do big institutional traders (big banks) and that is where they take advantage of the average. I am starting to talk to far into the future now, but often on big term reversals from these major levels we will see price develop a nice buy trade and give all the right signals but then make a final push down back through the level taking out a heap of stop losses then quickly changing direction into original bias...

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